Paypal Payments

[Suprchargd]

I've been using Paypal for a while to pay for purchases I've made. I'm about to sell something to someone now, and I was wondering what, if anything, I need to worry about.

I've heard of stories where they send you payment and then close their accounts so they never make payment on it?

Also, do I need a bank account listed with Paypal to receive money? If all I have is my credit card listed, how will I get the money?

[Joshua312]

After you recieve the money you can go into your account and request a check from paypal for the money. Usually takes 5 days to recieve the check, have never had a problem yet and have done hundreds of transactions

[qadsan]

Make sure your customers are PayPal Verified and PayPal Confirmed so that you have seller protection. If you don't know what this means, then go to PayPal's web site and use their help / search feature and look up the words "Confirmed" and "Verified" in addition to reading about "Seller Protection".

The good thing about dealing with confirmed and verified buyers is that your risk is reduced, but at the same time it may put off customers who don't want to go through the verification process if they're not already verified.

Other PayPal things to watch out for are fees from international customers. Not only will you get hit with your usual PayPal transaction fees, but you'll also get hit with cross border fees.

USPS shipping rates will increase in just a couple weeks, so make sure you take that into account if you plan to use the USPS as one of your carriers. For your best rates, sign up for an account and you'll save money on delivery confirmation if you're printing your own labels via USPS. Make sure you have some criteria for determining which shipments you want to insure if what you're shipping has enough value to it.

Somewhere nested in PayPal's web site is their contat phone number. It's pretty hard to find from what I recall, but they've been helpful to me in the few instances I've had from bad customers. You may want to find their number and chat with them about what they recommend for account settings, what to watch out for, etc. I believe you'll also need to have your bank account on file to sell. I'd also recommend that you get yourself PayPal verified and confirmed if you're not already setup this way as it will give you more credibility with some customers in addition to providing other benefits. Good luck!